143 Elkin Ave N, Waynesboro, VA 22980

Property Description

Turnkey, fully renovated 4-unit apartment building offering immediate, stabilized income. The property underwent an extensive, top-to-bottom renovation in 2023. All new systems and finishes, including plumbing, electrical, roof, gutters and downspouts, windows, kitchens, baths, lighting, paint, and refinished original wood floors and more. The building is fully rented with annual leases, generating $5,250/month in gross income ($63,000 annually). Tenants pay all utilities, keeping operating expenses streamlined. Each unit includes baseboard heat, window A/C, and in-unit washer/dryer. Additional features include off-street parking for all tenants and a location directly across from the Virginia Metalcrafters Marketplace, a growing mixed-use destination home to Happ Coffee, Commonwealth Crush, Basic City Brewing, and the Foundry. This proximity to popular food, beverage, and gathering spots adds everyday convenience for tenants and supports long-term rental demand. Easy 25 min commute to Charlottesville. This is a true buy-and-hold opportunity for investors seeking low-maintenance ownership, predictable cash flow, and no need for immediate major repairs or system replacements.